Australia shares set to open higher on Wall Street’s lead, but NZ tepid

Australian shares are expected to start the week firmer on Monday, following a strong lead from Wall Street as investors took heart from strong US jobs data and dovish remarks from Federal Reserve Chairman Jerome Powell.

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All three major US stock indexes surged more than 3 percent on Friday in one of the broadest advances in years after a strong employment report and Powell’s pledge that the central bank would be patient with its monetary policy.

That soothed markets that had been roiled by concerns over a global slowdown.